Team Profile: Peter Afford
This month we caught up with PPT Director Peter Afford to chat about his professional experience and his interests away from work, which includes plenty of sport and community activities.
Where are you originally from?
I grew up on a farm in a small town in the Mallee called Hopetoun. At the age of 20 I moved to Ballarat for work and to study at the University of Ballarat (now Federation University). After study was completed I worked in Maryborough, Campbellfield, Sydney and Melbourne before settling back in Ballarat.
What made you choose the accounting industry?
Initially I worked in the manufacturing sector at Eureka Tiles then moved to Nestle and then Mayne Nickless. In each of these industries I worked across taxation, costing, finance and industrial engineering. I then spent 10 years working as the CFO of a local Commercial Building company. In each of these positions I gravitated toward providing financial guidance. It was a natural progression to move to public practice and have been in this role since 2010 and a partner since 1 July 2012. I really enjoy meeting with and growing to know a wide variety of people and businesses.
What experience do you have in the industry
Having worked in Management Accounting for over 20 years I have a vast practical knowledge of Accounting from the point of view of our clients. I think that I can empathise with clients and focus on the important business items that make clients more profitable. I have been able to take this management experience and use it to assist in public practice and have been lucky enough to work with a range of clients including Builders, Manufacturers, Medical Professionals, Retailers, Hospitality, Farmers and Not for Profits.
Do you have any particular areas of interest/specialty?
At PPT we are fortunate to have a very broad range of clients across a number of different industries and we assist in all taxation matters, management and financial reporting. With a background in manufacturing and Building I have a focus and specialised knowledge in these industries. In particular we concentrate on job costing, standard costing and activity based costing. Other areas that I am particularly interested in are business valuations and succession planning. Self Managed Super Funds are a growing area that can be a very useful and important part of a client’s total portfolio.
What are the major challenges facing clients at the moment?
Our clients are facing a market place that is now adept at using technology and researching the products and services that they want to purchase. Technology is assisting our clients with cloud based accounting systems, point of sale systems and online ordering and purchasing. One of the most exciting challenges at PPT is ensuring that we are at the forefront of these advancements and are able to assist our clients with these changes.
What keeps you busy away from work?
Outside of work I follow Richmond in the AFL and have forced my wife, daughter and son to be members. I also coached the Under 17’s Buninyong Redbacks in the Ballarat and District Soccer Association and we were runners up in that competition this year. In summer I play a bit of tennis and am President of the Mt Helen Tennis club. In my spare time I am also involved in the Art Gallery of Ballarat as Treasurer and Treasurer of the Ballarat Blokes Biggest Ever lunch. If there is any spare time remaining I enjoy riding my push bike and motor bike.
How old are your children?
I have a daughter, Maddy who is 19 and is studying Vet Science at CSU in Wagga Wagga and son Riley who is 17 and in Year 11 at Ballarat Grammar.
To discuss your accounting and tax requirements contact Peter (03) 5331 3711.
